Why Does the Insurance Sector Need Multi-Language Support?

Why Does the Insurance Sector Need Multi-Language Support?

Insurance isn’t an option anymore but a necessity. Mainly after COVID taught everyone what uncertainties are, the number of people buying insurance has increased considerably. But buying insurance isn’t as straightforward. Insurance products are complex. Users must understand everything besides visible benefits and coverage to make an informed decision!

Multilingualism is an effective way to deliver better buyer experiences. But unfortunately, not all insurance providers have yet embraced it. Accordingly, this blog addresses every insurance player, wondering about the benefits of multi-language support, and explains why the latter is as vital.

5 Benefits of Multilingualism in Insurance

Multilingual support is more of an experience. It starts from the beginning and hand holds the customer throughout, thus enhancing the overall brand interaction. So, here’s how multilingual support can positively impact insurance, increase trust and improve the salability of insurance products.

1. Informed Decision-Making

As mentioned earlier, insurance products and policies are complex. They are an exhaustive document with various intricate details, understanding which is crucial to choose the right products. Often, prospects either turn down a product or buy the wrong one only because they couldn’t understand it fully or appropriately. This negatively affects the insurance company’s sales and could lead to conflicts, especially when a claim settlement instance surfaces.

But multilingual product content can help prospects understand an insurance product better. They can understand the various technical terms involved in insurance terms and conditions and make an informed choice. It could also lead to fewer complications during claims approvals and disbursements.

2. Seamless Customer Onboarding

Experiences often start from pre-sales and continue until the post-sales stage. A localized call to the buyer, explaining all the details, conducting the KYC process answering all questions in the local language could be a pleasant experience. Walking the extra mile can help build trust. Customers would be thankful to the insurance provider for the seamless onboarding experience.

In addition, localized SMSs, emails, Chatbots, OTP messages, alerts, and policy notification alerts can further contribute to the customer experience.

3. Multilingual Claim Support

Claim support requires effective bidirectional communication between the claimant and the insurance company. But in many cases, language impedes the claim communication and support process. It is because neither party is multilingual. Hence, providing multilingual support can help.

It can usher a feeling of trust and confidence among the claimants, who would find someone speaking their language at the other end. Contact center executives also can provide helpful information effectively in the claimant’s language.

It can help expedite and make the claim support process more effective and value-driven. Claims are where insurance buyers expect excellent, prompt, and continuous support from their insurance service provider. Quick service and multilingual assistance can help simplify the claim process.

4. Enhanced Customer Satisfaction

Online insurance policies have helped insurance companies simplify the sales process. But what about customer retention?
Many insurance companies fail here. They sell insurance policies quickly but cannot retain their buyers beyond the first or second premium. One of the causes is poor and slow customer service. In addition, one cannot discount the absence of multilingual content and assistance, which may also affect customer loyalty.

Accordingly, insurance companies must localize their content and provide multilingual assistance to their customers. Deploying multilingual Chatbots, voice bots, localized IVRs, providing how-to videos, and localizing policy details are some common measures they can take to contribute positively to client retention.

Besides, making localized content available through all the above can reduce call flows and customer waiting time and accelerate the query resolution process. Contact center executives, on the other hand, will have more time to resolve the more complex concerns of their customers rather than routine ones.

5. Increased Outreach

Expanding to newer markets is one of the ways to increase market share. But in today’s age, where regional internet users quickly outnumber English, you cannot rely on unilingual support.
Adopting a multilingual approach can help insurance service providers venture into newer territories and serve the local prospect base.

Language is highly effective for winning customer trust and resonating with their needs. Multilingualism can help serve the need. It can help insurance service providers establish local trust and credibility, thus laying the foundation for a promising venture in the new market.

Comprehensive Insurance-Specific Multilingual Support from FidelSoftech

Are you an insurance company looking for domain-specific multilingual support? Do you want to leverage multilingualism to enhance customer service, improve brand experience, and increase brand outreach? Partner with FidelSoftech.

We have over a decade of experience in multilingual support and expertise in 100+ Indian and foreign languages. Our comprehensive multilingual support involves translation, localization, and interpretation. We employ language and domain experts to ensure technical, linguistic, and cultural accuracy.

In a world where online insurance catalyzes business growth, don’t restrict your outreach to a particular language user group. Broaden your horizon with our multilingual support for the insurance domain and open the door to exciting opportunities. Connect with us at +91-20-49007800 or write an email to sales@fidelsoftech.com for an in-depth discussion.

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